11 February 2019

Zimbabwe: Afreximbank Says Ready to Help Zimbabwe Tackle Fuel Shortages

The African Export-Import Bank(Afreximbank) stands ready to provide all necessary support to aid Zimbabwe in tackling its fuel shortage.

This was said by the president and chairman of the bank's board of Directors Dr. Benedict Okey Oramah on the sidelines of the 32nd African Union summit on Sunday.

"We have to operate within the country limits they have. We are always available to support them as much as we can within our capacities," he said.

"The fuel shortages I think are going to be resolved because the government has done some adjustments in prices, policy adjustments, that will make sure that fuel is available."

Dr Oramah said the bank would support Zimbabwe with various instruments.

"We continue to support them on a revolving basis through letters of credit, provide financing for exports from Zimbabwe, we also provide some financing for investments for Zimbabwe," Oramah added.

The remarks were made amid the ongoing protests against increased fuel prices in Zimbabwe, which turned violent and resulted in deaths of more than 10 people.

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